Why iShares MSCI Korea ETF (EWY) rose 5.11%
iShares MSCI Korea ETF (EWY) rose 5.11% on August 13, 2026 — Tankan hits 13-yr high on chip boom, lifts Korea.
What happened
Reuters Tankan manufacturing index hit its highest since March on chip boom, sparking a broad rally in Korean equities that the iShares Korea ETF captures.
Why it moved
EWY holds Korean large-caps, which are disproportionately exposed to semiconductor and tech earnings; the Tankan signal of durable chip demand lifts the entire index.
Why it matters
Korea Tech is a core beneficiary of the AI supercycle — manufacturing strength validates ongoing capex in memory and semiconductors, the region's largest export pillar.
What would break the thesis
Broader market volatility or a sharp slowdown in global capex could reverse the regional momentum despite fundamental support.